Gruppo Delta Owner Ready To Look For Another Asset Buyer

Gruppo Delta's majority owner said Tuesday it is ready to look for another buyer for some of its assets it Intesa Sanpaolo SpA loses interest, Dow Jones Daily Bankruptcy Review reported. Consumer credit company Delta is under administration and the sale of part of its assets is part of an effort to rescue it. Business tabloid MF said earlier Tuesday that Intesa, Italy's biggest retail bank, had called off talks to buy the assets. Without citing its sources, MF said Intesa was concerned at possible legal risks it could incur if Delta were to go bankrupt. In a statement, Delta's owner, Cassa di Risparmio della Repubblica di San Marino SpA, or Carisp, said it had yet to get word from Intesa confirming the news report. Carisp is San Marino's biggest bank and owner of 80% of Delta. Regardless of the outcome of the talks, Carisp said Delta had reached an agreement with its creditors for a restructuring plan. Delta has €3.5 billion of debt. The assets up for sale include bank Sedici Banca, insurer Bentos Assicurazioni and two distribution networks for consumer credit products called Carirete and RetePlus.